We are going to wait for better conditions for wLEO before we launch...

Yesterday was supposed to be the big launch day for wLEO. Where LEO was finally going to be exposed to the plethora of resources that linking to the ethereum chain might offer.

But alas, it did not happen.

Why didn't it happen?

Well you can thank our good friend Uniswap for that...

On Wednesday night, Uniswap decided to launch their governance token and airdrop it on those providing liquidity.

And the resulting activity was so great that it caused fees on ethereum to spike into the stratosphere, at one point touching about $50 per.

For this reason it made sense to push the wLEO launch back because most of us don't really want to pay unusually high fees which will eat into much of the profit that can be made providing liquidity.

Also, the wLEO launch needs to generate a ton of hype and buzz for it to be "successful", and there was no way anything was going to overshadow the UNI aidrop yesterday.

What now?

Now, we wait for the dust to settle and we wait for ethereum fees to come down towards more normal levels.

Once that happens, which will hopefully be next week, we are good to go!

Keep in mind that the UNI airdrop wasn't all bad news, especially for those that had been providing liquidity previously.

This user posted on Twitter how he was airdropped over half a million dollars for his work as an LP:

(Source: https://twitter.com/Privatechad_/status/1306442323438510081)

That's a perfect example of the kind of craziness that has been going on in defi over the last several months...

Still don't think HIVE needs to get involved in this in a major way?

Stay informed my friends.

-Doc

Posted Using LeoFinance